=== Word vs Docs ===
I'd say the only way Google wins in this is collaboration. Being able to work on the same document with multiple people at the same time is such an amazing feature, I'm sad to lose it.
You can collaboratively edit Word documents in Word 2010 and SharePoint:
Office 365 Word does it without the need for SharePoint (both in the Word web interface and the Desktop app). It's terrible, I can't recommend it. The number of crashes and sync-losses we had was ridiculous.
You can collaboratively edit Word documents in Word 2010 and SharePoint:
http://office.microsoft.com/en-us/word-help/video-coauthorin...
Also works in OneNote. OneNote can do it without SharePoint, I don't know whether Word can.